eToro
By eToro

Stocks stage a dramatic turnaround: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Tellurian Inc. (TELL), Overstock.com, Inc. (OSTK), CarGurus Inc. (CARG), Renewable Energy Group Inc. (REGI) and Draftkings Inc. (DKNG).

  • Tellurian Inc. (TELL) shares surged after the liquefied natural gas (LNG) start-up reported its Q4 earnings.
  • Shares of e-commerce company Overstock.com, Inc. (OSTK) soared following news that Intercontinental Exchange, owner of the New York Stock Exchange, will become “a significant minority shareholder” of tZERO, the digital security marketplace of which Overstock is the majority owner.
  • CarGurus Inc. (CARG) shares popped after the online auto marketplace reported fourth-quarter results.
  • Renewable Energy Group Inc. (REGI) shares jumped ahead of upcoming earnings following news that the biodiesel maker was in advanced discussions with Chevron in a $3 billion acquisition offer.
  • Draftkings Inc. (DKNG) shares spiked after rival sportsbook operator and casino giant Caesars Entertainment announced plans to cut back on media ad spending. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Tellurian Inc. (TELL) 0.96 (+39.51%) 3.39 Consumer Goods
Overstock.com, Inc. (OSTK) 14.27 (+35.94%) 53.98 Services
CarGurus Inc. (CARG) 12.00 (+34.84%) 46.44 Services
Renewable Energy Group Inc. (REGI) 10.41 (+31.17%) 43.81 Consumer Goods
Draftkings Inc. (DKNG) 4.91 (+28.40%) 22.20 Financial

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Meritor Inc. (MTOR), KAR Auction Services (KAR), Farfetch Limited (FTCH), Nordic American Tankers Ltd. (NAT) and Block Inc. (SQ).

  • Meritor Inc. (MTOR) shares surged after truck engine maker Cummins announced plans to acquire the commercial vehicle component manufacturer for $3.7 billion.
  • KAR Auction Services (KAR) shares continued to rise after used-car sales specialists Carvana signed a deal to acquire the used vehicle marketplace for $2.2 billion.
  • Farfetch Limited (FTCH) shares gained as investors responded positively to the online luxury fashion retailer’s fourth-quarter earnings and strong guidance for 2022. 
  • Nordic American Tankers Ltd. (NAT) shares popped after the marine shipping company posted its latest quarterly earnings results.
  • Block Inc. (SQ) shares soared after the e-commerce solutions company reported fourth-quarter and full-year earnings results, plus upbeat guidance for the year ahead.

NYSE TOP-PERFORMING STOCK

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Meritor Inc. (MTOR) 11.13 (+45.12%) 35.80 Consumer Goods
KAR Auction Services (KAR) 4.97 (+35.58%) 18.94 Consumer Goods
Farfetch Limited (FTCH) 0.92 (+16.79%) 20.92 Technology
Nordic American Tankers Ltd. (NAT) 0.37 (+23.87%) 1.92 Industrial Goods
Block Inc. (SQ) 22.10 (+22.62%) 9.85 Services

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Yandex NV (YNDX), Ozon Holdings PLC (OZON), Everbridge Inc. (EVBG), MissFresh Ltd. (MF) and MannKind Corp. (MNKD).

  • Shares of Russian tech giant Yandex NV (YNDX) and e-commerce leader Ozon Holdings PLC (OZON) crashed as economic sanctions of Russia began following  its deployment of troops into Ukraine.
  • Everbridge Inc. (EVBG) shares tanked after the California-based software company released disappointing fourth-quarter earnings.
  • Shares of Chinese grocery chain MissFresh Ltd. (MF) plummeted to a 52-week low.
  • MannKind Corp. (MNKD) shares dropped following a delay in the FDA’s review of the biopharmaceutical company’s new drug application for a pulmonary arterial hypertension treatment, and then plunged further after earnings fell short of analyst forecasts. 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Yandex NV (YNDX) -25.81 (-57.68%) 18.94 Technology
Ozon Holdings PLC (OZON) -7.35 (-38.79%) 11.60 Services
Everbridge Inc. (EVBG) -14.93 (-32.78%) 30.61 Consumer Goods
MissFresh Ltd. (MF) -0.83 (-30.40%) 1.90 Services
MannKind Corp. (MNKD) -1.14 (-29.53%) 2.72 Technology

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Foot Locker Inc. (FL), Mobile Telesystems (MBT), Nu Holdings Ltd. (NU), Skillz Inc. (SKLZ) and ATI Physical Therapy Inc. (ATIP) all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Foot Locker Inc. (FL) -13.12 (-31.10%) 29.07 Consumer Goods
Mobile Telesystems (MBT) -1.67 (-23.29%) 49.72 Services
Nu Holdings Ltd. (NU) -2.07 (-21.02%) 7.78 Financial 
Skillz Inc. (SKLZ) -0.73 (-19.21%) 3.07 Technology
ATI Physical Therapy Inc. (ATIP) -0.46 (-17.76%) 2.13  Services

 

Highlights and Lowlights

After a sharp sell-off sparked by Russian troops’ invasion of Ukraine, stocks made a remarkable comeback as investors turned optimistic that effects of the conflict on local markets would be minimal. The NSDQ100 and SPX500 gained 1.1% and 0.8% respectively, while the DJ30 remained flat at 0.0%.

What’s in Store for the Week?

As investors keep an eye on the war in Ukraine’s impact on markets, energy prices and commodities, earnings season continues. This week’s releases include Zoom, Salesforce, Target, Costco, Best Buy, and AMC. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.

On Wednesday, investors will be watching OPEC for its decision regarding oil production boosts. Fed Chairman Jerome Powell will appear on Capitol Hill to give the semi-annual monetary policy update on Wednesday and Thursday, and the Labor Department will report February’s nonfarm payrolls on Friday.